Which of the following is the only risk that can be manipulated by the auditors? (a) Control

Question:

Which of the following is the only risk that can be manipulated by the auditors?

(a) Control risk.

(b) Detection risk.

(c) Inherent risk.

(d) Sampling risk.

Choose the best answer

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Modern Auditing

ISBN: 9780471230113

1st Edition

Authors: Graham Cosserat

See More Books

Question Posted: May 05, 2024 05:01 AM

See More Questions

Tests of controls are performed to determine whether: Controls are operating as designed. Material errors exist. Current ratios are within loan covenant requirements. Company net income is consistent...
Multiply Choice 1. Which of the following is NOT a requirement in managements report on the effectiveness of internal controls over financial reporting? a. A statement of managements responsibility...
Multiple Choice Questions Select the best answer for each of the following questions. Explain the reason for your selection. a. Which of the following would be least likely to be considered an...
Classify each of the following items as a public good, a private good, a mixed good, or a common resource. Georges Banks cod stock A courtside seat at the U.S. Open (tennis) A well-stocked buffet...
Rivera Inc. is considering the issuance of $500,000 face value, ten-year term bonds. The bonds will pay 10% interest each December 31. The current market rate is 10%; therefore, the bonds will be...
Comparing relevance and reliability, which information quality is most important? Support your answer with examples.
What is a contract? Of what significance are contracts in buyerseller relationships?
Hardesty Company uses budgets in controlling costs. The May 2014 budget report for the company's Packaging Department is as follows. The monthly budget amounts in the report were based on an expected...
1) A car starts with a velocity of 0 m/sec and ends up reaching 80m/sec in 4 seconds. Find the acceleration before the driver got a ticket. Formula Work with units Answer with units 2) Lisa had a...
If the acceptable level of detection risk decreases, the assurance directly provided from: (a) substantive procedures should increase. (b) substantive procedures should decrease. (c) tests of control...
Contrast tests of control and substantive procedures.
On June 30, Mystic Mountain Game Company purchased land for $250,000 and a building for $730,000, paying $180,000 cash and issuing an 8% note for the balance, secured by a mortgage on the property....
In an inertial reference frame F, an orange of inertia $m_{\text {orange }}$ and velocity $\vec{v}_{\text {orange }}$ collides totally inelastically with an apple of inertia \(m_{\text {apple...
When members of the J. Craig Venter Institute filed patent #US 2007 0264688 with the U.S. Patent Office, they expected to be met with a flurry of protests. In fact, the tone of the news release sent...
On December 31, 2018, the account for Drake Oil Companys individually insignificant unproved properties had a balance of $800,000. The impairment allowance account had a balance of $75,000. REQUIRED:...
On page 418, you read descriptions of four different personal orientations toward others competitors, individualists, cooperators, and equalizers. As you read these, you probably developed some ideas...
The medallion shown in Figure P6.79 has been made by cutting a small circular piece out of a larger circular disk. The diameter of the original disk is twice the diameter of the hole, and the...
Can a steady state device have boundary work?
When the Department of Homeland Security created a color-coded system to prepare government officials and the public against terrorist attacks, what did it do right and what did it do wrong?
The company Cassimpin, S.A. of C.V. is dedicated to the sale of machinery for the textile industry, last month, it made a sale to one of its main clients for an amount of $35,700,000.00 MXN, the...
You deposit $15,000 in an account that pays 1.41% interest compounded quarterly. a. Find the future value after one year. b. Use the future value formula for simple interest to determine the...
Consider the mixed streams of cash flows shown in the following table, a. Find the present value of each stream using a 5% discount rate. b. Compare the calculated present values and discuss them in...

Which of the following is the only risk that can be manipulated by the auditors? (a) Control

Question:

Step by Step Answer:

b D...View the full answer

Modern Auditing

Students also viewed these Business questions